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2018 Q2 Retail Charleston Report

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Nexton interchange is prime for retail growth

Key Takeaways

  • Average retail market rental rates rise as market vacancy tightens.
  • The Nexton interchange opened on I-26 and will conveniently connect Nexton Parkway in Berkeley County to Summerville.

Easier access to retail

The new Nexton interchange opened May 3, and due to its convenient location, Charleston-Summerville/Nexton consumers and residents will have easier access to retail centers. The location of the interchange is on I-26 west of U.S. Highway 17, and connects U.S. 76 near Cane Bay to U.S. 78 in Summerville. Also, I-26 was widened from four lanes to six lanes from exits 199 to 197 (approximately 2,500 feet west of the new interchange). The $88 million project was funded by four entities: Berkeley County ($55 million); South Carolina Transportation Infrastructure Bank ($22 million); South Carolina State Ports Authority ($8 million); and the Town of Summerville ($4 million). It was a widespread group of contributors who realized the positive impact the new interchange will have on daily commuter convenience and enhanced access to and from Highway 176, Highway 78 and the Nexton community. Officials say, “it will be a new gateway to Summerville and Berkeley County.” This project opened ahead of schedule and under budget despite various weather set-backs. However, according to the Post and Courier, there are already plans for the next expansion of Nexton Parkway in order to accommodate the subsequent wave of homes expected to be constructed at Cane Bay, Nexton and Carnes Crossroads. When a parkway traffic study deems the widening necessary, Berkeley County is obligated to foot the bill. In the meantime, residents and visitors will enjoy the convenience of the new Nexton interchange.

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2018 Q2 Retail Charleston Report

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